Empire State Building investors on December 24 filed a class-action lawsuit in a Manhattan state court against the New York skyscraper's managers. The said investors claim they were deprived of $410 million in profit in Empire State Building's initial public offering.
Deals
Brazil mining giant Vale to auction Log-In Logistica stake, Fosbrasil capital
Brazil-based iron ore mining giant Vale said it will sell its stake in Brazilian logistics firm Log-in Logistica International and auction its capital in phosphoric acid firm Fosbrasil.
Alibaba reportedly injects tens of millions of dollars in Chinese app LBE Security Master
Chinese e-commerce giant Alibaba reportedly poured in tens of millions of dollars in mobile security tool LBE Security Master for real-time monitoring of malware, spyware and adware in smartphones.
Total sells 15% stake in Congo oil exploration and production unit to Qatar Petroleum International
Petroleum firm Total SA has put up for sale a 15% stake in its Congo oil exploration and production unit Total E&P Congo. The said holding was sold to Qatar Petroleum International for $1.6 billion.
China's Shenzhen Hepalink Pharmaceutical to purchase Scientific Protein Laboratories
Shenzhen Hepalink Pharmaceutical, a Chinese drug maker that trades on the Shenzhen Stock Exchange, will be purchasing Wisconsin-based Scientific Protein Laboratories in a deal worth $337.5 million, the Wisconsin State Journal reported.
Latest News
Cessna aircrafts and Bell helicopters maker Textron Inc said it had approved the purchase of Beechcraft Corp in a deal worth $1.4 billion, Bloomberg reported.
Juergen Weber, the chairman of Hapag-Lloyd AG, said that Hamburg-Sued should participate in merger talks between his company and smaller Chilean shipper Compania Sud Americana de Vapores SA.
San Francisco, US-based secretive startup Pushd raised $1.04 million in a recent funding round from unidentified investors, according to a document filed with the US Securities and Exchange Commission.
Connecticut, US-based pharmaceutical firm Mederi Therapeutics raised $18.5 million in a Series B funding round for the sales and marketing of its treatment for Gastrointestinal Reflux Disease (GERD) and fecal incontinence.
Local buyout funds like MBK Partners and Vogo Fund are now leading the domestic buyout market in South Korea just nearly a decade after its first private equity fund was established in the country, the Financial Times reported.
LightSquared is proposing a new bankruptcy exit plan with financing from Fortress Investment Group and other backers, as the U.S. wireless communications company seeks to avoid a sale to highest bidder Dish Network Corp.
Gogolook chief executive officer Jeff Kuo confirmed to TechCrunch about the company's merger with Korean Internet company and LINE app owner Naver, which was worth TW$529 million or $17.6 million, according to a state report.
Plain Vanilla Games, maker of iPhone trivia matchup game app QuizUp, raised $22 million in Series B funding from investors led by Sequoia Capital Partners.
A filing with the US Securities and Exchange Commission revealed that Aptalis Holdings Inc has plans to conduct a share sale on the Nasdaq Stock Market and raise up to $500 million in the process.
